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Finnish Group Pushes Higher Defense Spending | Defense News | defensenews.com
Oct. 11, 2014 - 10:32AM |
By GERARD O'DWYER
Oct. 11, 2014 - 10:32AM |
By GERARD O'DWYER
HELSINKI — The implementation of major structural reforms, coupled with serial budget cuts since 2008, have seriously weakened Finland's capacity to procure essential equipment and fulfill its territorial defense role, according to the Finnish Parliamentary Assessment Working Group's much anticipated final report, "The Long-term Challenges Of Defense."
The report concludes that significant capital investments are urgently needed to revitalize a critically low level of materiel procurement spending and to strengthen the core defense budget in 2015-2020.
The report was presented to Finnish Defense Minister Carl Haglund on Oct. 2.
Specifically, the defense procurement budget will need to find $8 billion to $10 billion between 2016 and 2024 to finance big-ticket modernization programs, including the acquisition of fighter jets, ships, anti-tank weaponry, ground-based air defense systems, ground-to-air missiles and armored vehicles.....